Hsbc Global Res Upgrades Illumina (NASDAQ:ILMN) to Strong-Buy

Illumina (NASDAQ:ILMN) was upgraded by stock analysts at Hsbc Global Res from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday, October 17th, Zacks.com reports. The firm currently has a $180.00 target price on the life sciences company’s stock. Hsbc Global Res’ price target suggests a potential upside of 16.91% from the company’s previous close.

Several other analysts also recently weighed in on ILMN. Piper Sandler dropped their price target on Illumina from $200.00 to $195.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 13th. JPMorgan Chase & Co. cut their price objective on shares of Illumina from $130.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Daiwa America raised shares of Illumina to a “strong-buy” rating in a report on Friday, August 16th. Stephens reissued an “overweight” rating and issued a $170.00 price objective on shares of Illumina in a report on Wednesday, July 10th. Finally, Robert W. Baird boosted their price target on Illumina from $119.00 to $124.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $155.50.

Illumina Stock Up 2.8 %

Illumina stock traded up $4.20 during trading hours on Thursday, reaching $153.96. The stock had a trading volume of 3,014,201 shares, compared to its average volume of 1,991,276. The company has a market cap of $24.53 billion, a price-to-earnings ratio of -7.82 and a beta of 1.13. The business’s 50 day moving average price is $135.93 and its 200-day moving average price is $122.39. Illumina has a 52 week low of $89.00 and a 52 week high of $155.37. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.11 and a quick ratio of 0.86.

Illumina (NASDAQ:ILMN) last released its quarterly earnings results on Tuesday, August 6th. The life sciences company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.24. Illumina had a negative net margin of 68.73% and a positive return on equity of 3.08%. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period in the previous year, the company earned $0.32 earnings per share. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. Sell-side analysts anticipate that Illumina will post 3.63 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Bouvel Investment Partners LLC boosted its stake in Illumina by 1.3% during the 1st quarter. Bouvel Investment Partners LLC now owns 6,547 shares of the life sciences company’s stock worth $899,000 after purchasing an additional 84 shares during the period. UMB Bank n.a. raised its stake in shares of Illumina by 7.0% during the 2nd quarter. UMB Bank n.a. now owns 1,341 shares of the life sciences company’s stock worth $140,000 after buying an additional 88 shares in the last quarter. Integrated Advisors Network LLC lifted its stake in shares of Illumina by 2.0% in the third quarter. Integrated Advisors Network LLC now owns 4,484 shares of the life sciences company’s stock valued at $585,000 after purchasing an additional 90 shares during the period. Gulf International Bank UK Ltd lifted its position in shares of Illumina by 0.7% during the 1st quarter. Gulf International Bank UK Ltd now owns 13,562 shares of the life sciences company’s stock valued at $1,862,000 after acquiring an additional 98 shares during the period. Finally, Carson Advisory Inc. boosted its position in Illumina by 3.8% during the third quarter. Carson Advisory Inc. now owns 2,757 shares of the life sciences company’s stock worth $360,000 after purchasing an additional 102 shares in the last quarter. Institutional investors and hedge funds own 89.42% of the company’s stock.

Illumina Company Profile

Illumina, Inc offers sequencing- and array-based solutions for genetic and genomic analysis in the United States, Singapore, the United Kingdom, and internationally. It operates through Core Illumina and GRAIL segments. The company offers sequencing and array-based instruments and consumables, which include reagents, flow cells, and library preparation; whole-genome sequencing kits, which sequence entire genomes of various size and complexity; and targeted resequencing kits, which sequence exomes, specific genes, and RNA or other genomic regions of interest.